Irving Azoff Had Strong Ties To iHeartRadio Music Festival
June 7, 2013 at 4:28 AM (PT)
In an SEC filing, CLEAR CHANNEL notes how important former LIVE NATION ENTERTAINMENT Chairman IRVING AZOFF, who's on CCU's board, has been to the iHEARTRADIO FESTIVAL. In the filing, they explain his connection, writing "IRVING L. AZOFF has been a director of CCMH and CLEAR CHANNEL since SEPTEMBER 27th, 2010. Until his retirement on DECEMBER 31st, 2012, Mr. AZOFF served as Executive Chairman and a member of the board of directors of LIVE NATION ENTERTAINMENT, INC. ('LIVE NATION') since JANUARY 2010 and as Chairman of the Board of LIVE NATION since FEBRUARY 2011. Until his retirement on DECEMBER 31st, 2012, Mr. AZOFF also served as Chairman and CEO of FRONT LINE MANAGEMENT GROUP INC. ('FRONT LINE') since JANUARY 2005. Before joining LIVE NATION in 2010, Mr. AZOFF was CEO of TICKETMASTER ENTERTAINMENT, INC. since OCTOBER 2008. Mr. AZOFF is the personal manager of THE EAGLES, who he has managed since 1974, CHRISTINA AGUILERA, VAN HALEN and STEELY DAN. Mr. AZOFF was selected to serve as a director because of his extensive experience in the entertainment industry."
The financial connection was disclosed, with CLEAR CHANNEL reporting "During 2012, LIVE NATION paid us approximately $12 million for arms-length, ordinary course-of-business advertising services, and we paid LIVE NATION and its subsidiaries approximately $207,000 for entertainment-related services."
The connection was largely through the iHEARTRADIO MUSIC FESTIVAL, as the filing notes, "In addition, Mr. AZOFF or his affiliates represent certain of the musical artists who performed at our iHEARTRADIO MUSIC FESTIVAL during 2012, and Mr. AZOFF participated in attracting musical artists to perform at our iHEARTRADIO MUSIC FESTIVAL. We are not a party to any of Mr. AZOFF’s contractual arrangements with these musical artists."